ESG Performance Management Solutions: Introduction.
- ESG is the general term that is used in capital markets and also by investors to define the future financial indicators of companies and to evaluate corporate behavior.
- ESG performance management solutions help to develop non-financial performance indicators that comprise ethical, sustainable, and governance disputes such as controlling a company’s carbon footprint and confirming there are systems in place to ensure accountability.
- ESG performance is a developing concern in company valuations. The ESG performance management solutions refers to the disclosure of data covering the companies operation and it provides a snapshot of business for the investors.
- ESG performance management solutions deliver cross-organizational importance to strictly gain insightful ESG intelligence, provide timely disclosure reporting and stakeholder communications, and emphasize on key ESG sustainability performance development areas.
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ESG Performance Management Solutions Market: Dynamics
ESG Performance Management Solutions Market: Key Drivers
- ESG performance management solutions provide analysis of qualitative and quantitative disclosures that help investors to avoid companies that might pose a greater financial risk due to their social, environmental, or government practices.
- ESG performance management solutions integrate with upstream data sources including analytical, transactional asset-levels or CEMS systems, and the data acquisition can be tracked whenever the user wants to track the system. It helps to handle the calculation with calculation speed of more than one million calculations per hour regardless of the scale or complexity of the operation.
- ESG performance management solutions support any type of stakeholder or disclosure reporting, including reporting of UNGP, SASB, CDP, and DJSI.
High initial investment and lack of awareness expected to hinder growth of the market
- Lack of skilled professionals and high initial investment and deployment cost is the major factor expected to obstruct global investors from investing in the ESG performance management solutions market in the next few years.
- Small & medium-sized enterprises are budget constrained and cannot afford high initial investments to adopt ESG performance management solutions technologies, which restrains the market.
Impact of COVID-19 on the Global ESG Performance Management Solutions Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by the pandemic. COVID-19 has a negative impact on the ESG performance management solutions market. However, revenue of the market is expected to rise in the coming years as companies are future focused and proactive and they understand the importance of ESG performance management solutions in their business strategies and purpose.
North America to Hold Major Share of the Global ESG Performance Management Solutions Market
- In terms of region, the global ESG performance management solutions market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the global ESG performance management solutions market in 2020. The U.S. is an important market in the implementation of ESG that includes value- based investing and social responsibility investing. A strong financial position allows the country to invest heavily in the implementation of leading tools and technologies to ensure business operations.
- The ESG performance management solutions market in Asia Pacific is expected to expand at a rapid pace during the forecast period attributed to increasing investment by major players in the Asia Pacific region to expand their business operations in China, Japan, and India.
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Key Players Operating in the Global ESG Performance Management Solutions Market
- Sphera
Sphera is a global provider of information services and software in the operational risk and product stewardship and environmental performance market. The company enables anyone to standardize the process for mitigating, analyzing, monitoring, and identifying operational risks. It also offers software content, methodologies, and expertise for achieving MRO supply chain excellence.
- Dynamo Software, Inc.
Dynamo Software, Inc. is located in Massachusetts, United States. The company provides compliance software, deal management, research management, workflow automation, portfolio monitoring solutions. The company provides its services worldwide.
Other key players operating in the global ESG performance management solutions market include Accuvio, Benchmark Digital Partner LLC, Futurescape, NVIDIA Corporation, Microsoft Corporation, NextEra Energy, Inc., Prologis, Inc., WeSustain GmbH, CSRware, Inc., Enhelix, and Fincite GmbH
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